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Dec 10, 2013
12/13
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it's been a long awaited volcker rule. it bans proprietary trading by banks but there are several major exemptions. just the preamble to this rule was more than 800 pages. this morning in a briefing given to reporters by staffers from this major agency. let me walk you through the five exemptions. they are fairly complicated. first of all, underwriting. positions must not exceed what regulators are calling reasonably expected demands of customers. there's an exemption for market making in here. the trading desk inventory may not exceed, again, reasonably expected demands of customers. there's that phrase again. risk-mitigated hedging, an exemption under the volcker rule. bankers will be required to turn over their rationale to regulators. if you're going to hedge as a bank you have to explain why and what it is you're hedging. and trading in government obligations will be allowed, u.s., state and muni debt and some certain trading activities of foreign banking entities. foreign entities generally will be allowed to trade a
it's been a long awaited volcker rule. it bans proprietary trading by banks but there are several major exemptions. just the preamble to this rule was more than 800 pages. this morning in a briefing given to reporters by staffers from this major agency. let me walk you through the five exemptions. they are fairly complicated. first of all, underwriting. positions must not exceed what regulators are calling reasonably expected demands of customers. there's an exemption for market making in here....
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Dec 9, 2013
12/13
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tomorrow, regular ltors will vo to approve the volcker rule. harvey pitt is here to tell us what that means for the banks. >> the market stocks are looking to extend friday's gains. let's bring it chad and dan. good monday morning. >> good morning. >>> dan what do you think about where we are and where we may be headed? >> the bias still has to be to the up side. the fed meeting is a bit of a near-term hiccup. the secular outlook for stocks over the next 12-18 months, you still have to think is to the up-side. the threats that are being detailed are no different than what we have seen over the last 18 months. >> friday marked the beginning of a sentiment shift where people finally said the taper will be a good thing. it was sort of a slip camp on that before friday. now, coming into today, thomas from jpmorgan saying this is a good thing. stocks will rocket before this happens. do you share that view? as the economy starts to say, we are in this self-sustaining recovery. we do believe that market multiples are fairly valued at this point. you h
tomorrow, regular ltors will vo to approve the volcker rule. harvey pitt is here to tell us what that means for the banks. >> the market stocks are looking to extend friday's gains. let's bring it chad and dan. good monday morning. >> good morning. >>> dan what do you think about where we are and where we may be headed? >> the bias still has to be to the up side. the fed meeting is a bit of a near-term hiccup. the secular outlook for stocks over the next 12-18 months,...
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Dec 4, 2013
12/13
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we're going to talk financials given the volcker rule. jcpenney, the shares did appear they would be up this morning. i want to take another look at that. the department store chain says sales jump 10%, that was the second straight year for jcpenney. you got shares of express done on third quarter earnings, which missed expectations, as well as current quarter guidance, which is also below the earnings that analysts have. the reason i mention jcpenney there, it's not up at all. in fact, it is down, which i had noticed. let's not forget the comps they're coming off of. ron johnson set the bar so incredibly low that if you can't beat it, you're done. >> by selling something you beat last year's. what's more important than penney is michael weiss is the company's chairman and ceo at express. i'm sure some we deal with will criticize me on this. he's got a look for people entering in their 20s the workforce, he has the right looks. this is not teenage. this is another demo that's not spending. >> wow. there is a stock that's going to be down
we're going to talk financials given the volcker rule. jcpenney, the shares did appear they would be up this morning. i want to take another look at that. the department store chain says sales jump 10%, that was the second straight year for jcpenney. you got shares of express done on third quarter earnings, which missed expectations, as well as current quarter guidance, which is also below the earnings that analysts have. the reason i mention jcpenney there, it's not up at all. in fact, it is...
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Dec 27, 2013
12/13
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the volcker rule. what does this mean for the new rule? we'll talk with sheila bair after a break. [ mawhat if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. (voseeker of the sublime.ro. you can separate runway ridiculousness... from fashion that flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (natalie) ooooh, i like your style. (vo) so do we, business pro. so do we. go national. go like a pro. so ally bank has a that won't trap me in a rate. that's correct. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don'
the volcker rule. what does this mean for the new rule? we'll talk with sheila bair after a break. [ mawhat if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. (voseeker of the sublime.ro. you can separate runway...
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Dec 17, 2013
12/13
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you're seeing the most actives being some of the big banks, this just seven days after the volcker rule was announced. we've seen a drip of news, banks reshuffling their portfolios. they have said we've almost already done everything to comply with what we know about volcker, now we're seeing the ancillary effect of them starting to react to what they're seeing in the minutia in the language. if you look at the news that's come out, jpmorgan not addressing this on the record but a story in the f.t. that it will be trying to sell its global special opportunity unit, a group of about 35 people in hong kong, about 3 billion in assets that does special situations left-handing, junior loans or debt facilities. they're looking to sell that. i'm not told it's in direct result of volcker but it could become ensnared in this minute uta. -- minutia. even international banks aren't immune to this. and zhiweioions saying it's tak $387 million charge to sell nonqualifying loans and lickifyilic liquifying portfolios and taking a hit. they're already starting to make big moves and take big charges to
you're seeing the most actives being some of the big banks, this just seven days after the volcker rule was announced. we've seen a drip of news, banks reshuffling their portfolios. they have said we've almost already done everything to comply with what we know about volcker, now we're seeing the ancillary effect of them starting to react to what they're seeing in the minutia in the language. if you look at the news that's come out, jpmorgan not addressing this on the record but a story in the...
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Dec 24, 2013
12/13
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CNBC
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certainly a different set of circumstances than, say, a volcker faced back then. guys, have a great holiday. thanks, as always, for your insights. >> thank you. merry christmas. >> same to you. >>> it's been a good few weeks for the social stocks, and that's not changing today. shares of facebook and at least twitter up almost 4%, hitting some record levels on this growing optimism for social media advertising. if you're not already a buyer of social hype, is it time to finally get in? we'll talk about that in a moment. first, though, rick santelli, what are you watching on this christmas eve? >> yes. well, i tell you what, we are going to talk with ira harris on this holiday-shortened session this christmas eve, and the yield curve, and what else? see some of his thoughts and predictions for 1240. -- 2014. g over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. [woman]ask me... [announcer]...if you think
certainly a different set of circumstances than, say, a volcker faced back then. guys, have a great holiday. thanks, as always, for your insights. >> thank you. merry christmas. >> same to you. >>> it's been a good few weeks for the social stocks, and that's not changing today. shares of facebook and at least twitter up almost 4%, hitting some record levels on this growing optimism for social media advertising. if you're not already a buyer of social hype, is it time to...
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Dec 23, 2013
12/13
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he pinned the low inflation rig rates now what volcker and greenspan did over the several decades, the fed has credibility and it remains. >> thanks for coming in. >> it was fun. >> if you're joining us, here what happens you missed earlier on. >> welcome to "squawk on the street." here's what's happened so far. >> given the data, given the way the committee positioned itself, with the program that identified labor market conditions, the key criteria, this decision was kind of the slam dunk. >> over time, as people get it, if they like the benefit, it will rise in popularity. and taking it away completely repealing it, is dangerous. >> the last five days, the last serven day afrz december and th strongest of the month. as of last week we moved into positive territory in front of the seasonally strong period in a seasonally strong period. some of the news, if taken bullishly, could send us to further highs. >> what we're seeing apples's able to sell the iphone through china mobile's vast network, 763 million subscribers. >> i think people are going to be opening up 401(k) statements com
he pinned the low inflation rig rates now what volcker and greenspan did over the several decades, the fed has credibility and it remains. >> thanks for coming in. >> it was fun. >> if you're joining us, here what happens you missed earlier on. >> welcome to "squawk on the street." here's what's happened so far. >> given the data, given the way the committee positioned itself, with the program that identified labor market conditions, the key criteria,...
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Dec 13, 2013
12/13
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. >> that's why we have the volcker rule now. let's move on to one name, microsoft. one name being floated about to succeed steve ballmer can be taken off the list. steve mollenkopf will become the ceo of qualcomm on march 4th and will succeed mark jacobs. i hope i'm pronouncing his name properly. jacob is not an old guy. he's irwin's son. >> he's younger than i am. >> maybe the idea that perhaps he would leave was enough to get them to -- >> his name was floated yesterday. you know what, i'm going to float somebody's name today who is like high up in a company and he's going to make ceo tomorrow. >> would you do that for me? maybe you can float my name or something else. >> it is kind of amazing that this parlor game has gone on for so long. >> no idea if those reports were accurate or not. qualcomm is going to have a new leader and he's not going to be part of the jacobs family. >> shocker. qualcomm is an anointed knock. it continues to go higher. people are looking for a high-growth semiconductor. they don't see it with microchips or broadcom. etf with semis -- >>
. >> that's why we have the volcker rule now. let's move on to one name, microsoft. one name being floated about to succeed steve ballmer can be taken off the list. steve mollenkopf will become the ceo of qualcomm on march 4th and will succeed mark jacobs. i hope i'm pronouncing his name properly. jacob is not an old guy. he's irwin's son. >> he's younger than i am. >> maybe the idea that perhaps he would leave was enough to get them to -- >> his name was floated...